Boost your Borrowing Power

HomeStart may be able to help with our three loan products that have been specifically designed to boost your borrowing power.

Breakthrough Loan

HomeStart's newest home loan product, the Breakthrough Loan, was created to offer you the freedom to change your lifestyle without the added burden of increased repayments through a shared appreciation arrangement with HomeStart.

You will be able to borrow up to 35% more with no additional monthly repayments required. However, HomeStart will share a portion of the home's capital gain once the property is sold.

Find out more about the Breakthrough Loan.

Advantage Loan

The Advantage Loan is one of our subsidised loans and allows you to borrow up to $29,400 in addition to our standard HomeStart loan. The loan amount is determined by your gross combined income, with those earning less than $775 a week entitled to taking out this loan type.

The loan has a rebate period of up to 5 years, so if you pay off the entire Advantage Loan within this period then the interest is waived!

Please note that this loan cannot be taken in conjunction with the EquityStart Loan.

Find out more about the Advantage Loan.

EquityStart Loan

HomeStart's other subsidised loan is the EquityStart Loan, which is only available to current public housing tenants. 

This product allows customers to borrow up to $50,000 in addition to our standard HomeStart Loan and interest accrues at a subsidised rate, determined by the average CPI (Consumer Price Index) for the previous 12 months. The interest rate is reviewed quarterly.

Please note that this loan cannot be taken out with the Advantage Loan.

Find out more about the EquityStart Loan.

How do subsidised loans work?

The Advantage Loan and EquityStart Loan are subsidised loans that can be taken out with a standard HomeStart Home Loan.

Subsidised interest is charged to the loan and is based on the current average CPI for the last 12 months. This is reviewed quarterly and may mean that you are entitled to a rebate period, depending on the subsidised loan which is taken.
 
Repayments are not compulsory on the subsidised loan, however any additional payments made must be put towards the subsidised loan first.

Once the primary loan is repaid in full, the subsidised loan is either repaid or converted to a standard HomeStart Loan. Payments will continue at the same rate until the loan is repaid.
 
Redraw is not available on the subsidised loan or the main primary loan whilst the subsidised loan is outstanding.

Am I eligible?

To find out if you are eligible for any of these loans, simply contact us online, or call 8203 4000 or Freecall 1800 018 788 from regional locations.